Most states now recognize "transfer on death (TOD)" designations, also called "payable-on-death (POD)" designations. These are documents that a property owner can complete during their lifetime that transfers certain assets automatically on their death to the named beneficiary. This is a favori...
A Texas timeshare is created through a timeshare instrument. This can be amaster deed, master lease or other instrument used to create a timeshare plan. The timeshare period is the period within which the purchaser of a timeshare interest has exclusive possession, occupancy or use of the accommo...
and the trustee is responsible for administering the trust for the benefit of the beneficiary. Trusts come in various forms, such as revocable and irrevocable trusts, each serving different purposes. A revocable trust allows the grantor to amend or rescind the trust, whereas anirrevocable trustis ...
If the personal property has a title (like cars, trucks, motorcycles, RVs, ATVs, boats, or planes), the living trust will need to get a new title that lists it as the owner. In some states, you can name your trust as a beneficiary on the title of a car. This keeps the car in...
An example of implied warranty is when you buy a car from the dealer and expect the car to work as intended. But when you drive it off the lot, it stalls and you get into an accident. In that case, you might be able to recover damages from the manufacturer, even though you don’...
Open a savings accountthat holds a minimum deposit that’s the equivalent of 24 or more mortgage payments. Purchase a life insurance policy that covers 120% of the mortgage, and name the lender as the beneficiary. Show proof of property insurance. ...
Terms used in international trade business such as balance of trade,banker’s acceptance,baseefa,beneficiary,bifa,bill of exchange, big-ticket Terms used in international trade business such as Asian dollars,Automated broker interface,Automated commercial system,Automated manifest system,Avalisation ...
1. Get a Team Together Divorce feels lonely and cold. Some days you want to crawl into bed and never come out. Sometimes it’s good to withdraw and feel the dark grief. But it cannot be your chief coping strategy. You need to take care of yourself (more on that soon). For now, ...
In contrast, a trust deed involves three parties: a borrower (or trustor), a lender (or beneficiary), and the trustee. The trustee holds title to the lien for the lender's benefit; if the borrower defaults, the trustee will initiate and complete theforeclosureprocess at the lender's reques...
A unit trust is an unincorporatedmutual fundstructure that holds assets and provides profits to individual unit owners instead of reinvesting into the fund. A unit trust is established under atrust deed, and the investor acts as thebeneficiary. Key Takeaways Unit trusts are unincorporated mutual fu...